Barrett Business Services Director Buys 1,000 Shares as Q1 Billings Rise 3%
A director purchased 1,000 shares at $28.60, raising his stake to 20,943 shares and signaling insider confidence. Barrett Business Services reported a 3% increase in gross billings to $2.16 billion while posting an EPS loss of $0.13 and a net loss of $3.20 million excluding a one-time charge.
1. Insider Purchase Details
Director Finn Mark Steven purchased 1,000 shares at $28.60, boosting his total holdings in Barrett Business Services to 20,943 shares and reflecting strong insider confidence in the company’s prospects.
2. Q1 Financial Performance
Barrett Business Services achieved a 3% increase in gross billings to $2.16 billion, met consensus estimates, and posted an EPS loss of $0.13, narrower than the expected $0.15 loss but wider than last year’s $0.04 deficit.
3. One-Time Charge Impact
A $14.8 million net loss included a one-time charge from a U.S. Tax Court decision; excluding that charge, the adjusted net loss was $3.20 million, highlighting the underlying operational health.
4. Share Price & Range Context
The $28.60 purchase price closely aligns with recent trading near $28.40 and sits near the low end of the 52-week range of $25.33 to $49.65, underscoring perceived value at current levels.